A report released Thursday cautions that the $7.5 billion water bond on California’s November ballot may not yield “real improvements” to the state’s water supply or environment.

“Ultimately, the effectiveness of Proposition 1 funds in addressing California’s overall water problems will depend on how the funds, if passed by the voters, are actually allocated and spent,” reads the Pacific Institute’s report. “If the California Water Commission identifies and supports good projects, bond funds can help move the state forward in the broader effort of designing, building, and managing a 21st century water system.”

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